Synonym introduces a brand new mobile Bitcoin wallet | Techy Kings


Synonym introduces a brand new mobile Bitcoin walletImage: Shutterstock

Synonym, the Lightning Network and Bitcoin service provider, has launched a new BTC-focused mobile wallet. This wallet is expected to improve the experience of holders of the popular digital currency and increase the use of Web3 without complex blockchain applications. October 29 Synonym launched Bitkit, its mobile Bitcoin wallet, at the PlanB forum in Lugano, Switzerland. The wallet includes a self-defense node and a free encrypted backup service, and accepts BTC and Lightning Network payments. A limited public beta version of the Bitkit app has been released for Apple and Android smartphones. The Bitkit app is powered by Slashtags, Bitcoin’s cryptographic seed that generates keys and allows users to manage their data and money simultaneously. Synonym claims that Bitkit will support Web3 “without the need for a blockchain at all” using Slashtags. The new software will support “hyperbitcoinization,” according to Synonym Chief Strategy Officer Paolo Ardoino. It is a condition where Bitcoin is increasingly being used as a standard system of value and payment. “We are very pleased to announce Pear Credit in #lugano plan B. collaboration between @Tether_to holepunch (@keet_io) and @Synonym_to ⚡️”- Paolo Ardoino (@paoloardoino) March 2022 October 30Additionally, Blocktank Instant, a synonym-led service that allows crypto exchanges to add users to the Lightning Network without maintaining Lightning infrastructure or hiring more engineers, was released at the same time as Bitkit. John Carvalho, CEO of Synonym, defended his company. An interview on the sidelines of the PlanB conference promotes real-life Bitcoin business cases without the “magic fairy dust” of blockchain technology: “We at Synonym are trying to show how we position ourselves in the Bitcoin world without using blockchain. like some magical fairy dust. You can do all the Web3 stuff, and in the future we’ll also show you how you can do things with tokens without blockchain at all. He went on to describe how Bitkit can help Bitcoin owners: “With the latest version of our Bitkit app, we’re basically showing the Bitcoin wallet user experience where the user has a key to everything — you hold the keys to your Bitcoin, your Lightning wallet, your public profile, your contacts.Shashank is the founder of yMedia. He ventured into cryptocurrency in 2013. and is an ETH maximalist.

Check out our festive offers of up to Rs 1,000/- off site on subscription + gift card worth Rs 500/- from Click here to learn more.


Source link